Flat 10 Elizabeth Wheeler House, 19 The Mall, Bromley, Kent, BR1 1TT

Description

A Vacant Fourth Floor Two Bedroom Flat. The property comprises a fourth floor two bedroom flat situated within a purpose built block arranged over ground and eleven upper floors.

Accommodation

Fourth Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Church House Gardens are within easy reach. Transport links are provided by Bromley South rail station.

Tenure / Property Information

Investment Analysis

Same-block completed sales range from £134,000 to £227,500, with the two latest supplied sales at £187,000 and £227,500. Given the vacant condition, EPC F, approximately 43 years unexpired on the lease and limited comparable detail, a cautious base GDV of £187,000 is used. The £173,000–£227,500 scenario range reflects supplied 2021–2023 sales, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the headline discount. Proceed only after legal and lease review, confirmation of service-charge and ground-rent liabilities, inspection of the EPC/condition position and a valuation reflecting the 43-year unexpired term. If those checks are satisfactory, the strongest apparent route is value-led BTL or BRRR, subject to specialist short-lease finance.

Works Required

Obtain a full inspection and legal-pack review. Allow for works required to improve the EPC from F and any general refurbishment identified during inspection, but no specific defects or refurbishment costs are evidenced. Confirm leasehold obligations, service charge, ground rent and any required landlord consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £60,000 guide plus the known £1,800 administration charge, the illustrative total is £61,800 before works and other charges. A 75% advance against the £187,000 base GDV would be £140,250, implying £78,450 more than this limited cost base could theoretically be released. This is not a lender commitment: the short lease, EPC F, valuation, affordability, lease terms, works and unknown fees could materially reduce or prevent refinancing. A meaningful BRRR return cannot be confirmed without refurbishment costs and lease information.

Buy-to-Let Analysis

Using the relevant supplied advertised asking rent of £1,650 pcm, annual gross rent is £19,800. Against the £60,000 guide this is 33.00%, or 32.04% against the guide plus the known £1,800 administration charge. These figures exclude works, service charge, ground rent, management, voids, finance, tax and disbursements, and the rent is asking evidence rather than achieved rent. The approximately 43-year lease is a major BTL and mortgageability risk.

Flip Analysis

Using the £187,000 base GDV, the apparent margin over the £60,000 guide and £1,800 administration charge is £125,200 before works, selling costs, finance, tax and other purchaser charges. No flip surplus is stated because no supported refurbishment allowance or selling allowance is available. The short lease, EPC F and unknown condition and legal-pack charges make the resale assumption particularly uncertain.

Investor Risks & Due Diligence

• Approximately 43 years remain on the lease, creating valuation, mortgageability and resale risk.

• EPC rating F may require improvement works, but the required scope and cost are unknown.

• The property is vacant and no achieved rent or passing tenancy is evidenced.

• Service charge, ground rent, lease restrictions and lease-extension terms are not supplied.

• Buyer disbursements, seller-cost reimbursement, legal fees, transfer fees and other special-condition charges may apply.

• The £1,650 pcm figure is an advertised asking rent, not an achieved rent.

• The comparable sales do not provide bedroom, floor, condition or lease-length details, limiting valuation reliability.

Recommendation

Do not bid solely on the headline discount. Proceed only after legal and lease review, confirmation of service-charge and ground-rent liabilities, inspection of the EPC/condition position and a valuation reflecting the 43-year unexpired term. If those checks are satisfactory, the strongest apparent route is value-led BTL or BRRR, subject to specialist short-lease finance.

Strategy Rating

Analysis Confidence

Same-block completed sales and one relevant advertised rent are available, but lease-adjusted valuation, condition, refurbishment costs, service charges, ground rent, buyer fees, disbursements and selling costs are not supplied.